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EXHIBIT 99.1
GILEAD SCIENCES INITIATES PRIVATE PLACEMENT OF CONVERTIBLE SUBORDINATED NOTES
FOSTER CITY, CA, DECEMBER 11, 2000 - Gilead Sciences, Inc. (Nasdaq: GILD)
announced today it intends to offer, subject to market and other conditions,
$250 million (plus up to $50 million to cover over-allotments, if any) of
convertible subordinated notes, through a Rule 144A offering to qualified
institutional buyers. The Notes would be convertible into Gilead common stock
and would have a seven-year term.
the Notes and the common stock issuable upon conversion of the Notes have not
been registered under the Securities Act of 1933, as amended, or any state
securities laws, and unless so registered, may not be offered or sold in the
United States, except pursuant to an applicable exemption from the registration
requirements of the Securities Act of 1933, as amended, and any state securities
laws.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the Notes.
Gilead Sciences, Inc., headquartered in Foster City, CA, is an independent
biopharmaceutical company that seeks to provide accelerated solutions for
patients and the people who care for them. Gilead discovers, develops,
manufactures and commercializes proprietary therapeutics for challenging
infectious diseases (viral, fungal and bacterial infections) and cancer. Gilead
maintains research, development or manufacturing facilities in Foster City, CA;
Boulder, CO; San Dimas, CA; Cambridge, UK and Dublin, Ireland and sales and
marketing organizations in the United States, Europe and Australia.
In addition to historical information, this press release contains
forward-looking statements that involve risks and uncertainties, including but
not limited to, uncertainties related to the offering of the notes. Actual
results could differ materially.
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for more information on Gilead Sciences, please visit the company's web site at
www.gilead.com or call the Gilead Corporate Communications Department at
1-800-GILEAD-5 (1-800-445-3235).
